The full detail of news here: / January 15, 2015 / RadTek Inc. (RDTK) ("RadTek" or "the Company") a well-respected and experienced leader in the field of Cargo Inspection Systems utilizing x-ray technology, who continues to see expansion of their contracts with various agencies across the Country and Internationally, is pleased to announce today that it has secured a new contract worth USD$750,000 to provide maintenance of Busan II Site through December 2018.
RadTek's years of experience in the radiation shield design for construction and system integration related radiation technology makes them the ideal partner for the Korean Government Agency.
Korea Customs Service (KCS) has protected the country against smuggling and terroristic activates since 2002.These services include installing and running CIS sites using high energy X-ray to penetrate a container to view an X-ray image showing inside the container which allows KCS inspectors to perform much easier, more effective, and less time consuming inspection on containers versus physical inspections. There are 14 CIS sites run by KCS and each site needs delicate maintenance service on a variety of equipment. With numbers of high level technologies with varied technical fields such as high energy X-ray linear accelerator, radiation detection, radiography, vehicle transport system, internet network, storage server, and more RadTek's expertise is needed to maintain everyday operations. RadTek is recognized as a preferred organization for delivering maintenance service for KCS's CIS sites now including the Busan II CIS Site, with expertise from the delivery and installation of key-sub-systems of CIS.
Mr. Kwanghyun Kim, the CEO of RadTek, says. "The Company is expecting more opportunities to provide services for the other 13 existing CIS centers throughout Korea. The maintenance of each existing CIS sites in Korea generally contracted for approximately $200,000 USD annually." Mr. Kim also says, "RadTek has plans for not only the maintenance of the CIS sites but also future CIS centers to be establishment." These types of services are becoming more significant since the U.S Security Act XVII Section 1701; Container Scanning and Seals (a), states that any cargo container shipping to U.S. must be scanned by radiation detection equipment before it is loaded on a vessel in a foreign port, is planned to be effective as of July, 2016. With the Free Trade Agreement between the U.S. and South Korean Governments, which requires that at least 30 additional sites be supplied with CIS systems, it is critical that these systems be brought online before the Act is effective. The estimated market value for these CIS Installations is worth approximately $10 million US Dollars for each installation. With the significant number of sites the market value for such operations is significant in the Korean market alone. With their advanced skills in this sector the worldwide market makes RadTek's opportunities wide open in the current security conscience post 911 world. With this and other opportunities RadTek's opportunities in the CIS business market in Korea and abroad will hopefully see continued exponential growth with the contracting of KCS CIS Busan II site maintenance for the Korean's homeland security.
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